70 
 
 r F 
 ^ 814 
 
 N A7 
 O 
 
 Z 
 > 
 
 > 
 z 
 > 
 
 o 
 
BANCROFT 
 LIBRARY 
 
 THE LIBRARY 
 
 OF 
 
 THE UNIVERSITY 
 
 OF CALIFORNIA 
 
jitized by the Internet Archive 
 in 2007 with funding from 
 Microsoft Corporation 
 
 tp://www.archive.org/details/financialstatemeOOarizrich 
 
>•// T^^i" 
 
 FEBRUilRY 1st, IBBB. 
 
 FIMAMCIA^ STATEMEKT 
 
 OF^ 
 
 7 
 
 Fs. Carparatian arganized and existing under and by virtue 
 of the laTA/s nf the Territory nf Arizona, 
 
 IflCOf^POt^flTED, DEC. 22, 1882. 
 
 Capital stock, 1,000 Shares, of the par 
 value $500 each, $500,000. 
 
 Principal Office: PHOENIX, A. T. 
 
 Property located in the Salt River Valley^ 
 Maricoini County^ A rizona. 
 
DFFICERS. 
 
 President, - - W. J. Murphy, Phoenix, A. T. 
 
 Secretary, - - W. D. Fulwiler, Phoenix, A. T. 
 
 Treasurer, - - The Yalley Bank, Phoenix, A. T. 
 
 DIRECTDRS. 
 
 Andrew Crawford, Oljicago, 111. 
 J. De Earth Shore, San Gabriel, Oa!. 
 Wm. Chhisty, Phoenix, A. T. 
 Clark Churchill, Phoenix, A. T. 
 W. J. Murphy, Phoenix, A. T. 
 
 FURPDSES DF THE GDMFANY, 
 
 To secure title to water, to construct and operate canals, 
 for the purpose of furnishing water for irrigation, water power 
 and city sui)ply. To secure and sell land for town sites and 
 mill sites and otln-r purposes. 
 
 The Arizona Canal is a fine specimen of engineering skill 
 and very substantially constructed. !t furnishes water to irri- 
 gate 96,000 acres of land, besides city supply and an extensive 
 water power. 
 
 The soil irrigated by it is of the finest quality for fruit- 
 groA'ing. It [)roduces the olive, fig, pomegranate, raisin, orange, 
 lemon and other tropical fruits, equal to the most favored local- 
 ities of Spain. 
 
 The climate of the Salt River Valley is semi-tropical, and 
 as bright, beautiful and healthy as sunny Italy itself. 
 
ASSETS. 
 
 Franchise Lo 50,000 miner's inclies of water in Salt Rivtr-r, 
 secured by location under the general laws of the United 
 States, in eonfonnity with the laws of Arizona. 
 
 Right of way secured from the General Government, 
 under law of Congress. 
 
 Town sites and mill sites and water power, equal to 1,500 
 horse-power. 
 
 Main Canal. 40| miles long, maximum width, 57 ft., and 
 carrying depth 7^ ft.; capacity, 40,000 miner's inches. Con- 
 struction commenced in 1883, and fully completed in 1887, 
 at a cost of 8603,013 96. 
 
 Estimated Value of Assets $2,000,000 00 
 
 E&TiMATED Income : 
 
 From Sales of water rights, mill sites, etc $1,250,000 00 
 
 From Rentals of water and water [)ower, per 
 
 annum 175,000 00 
 
 Market value of a water right, Feb. 1st, 1886 . . .$ 500 00 
 Market value of a water right, Feb. 1st, 1888. . . 1,000 00 
 
 Bonds cancelled since Feb. 1st, 188b. . $ 100,000 00 
 
 The proceeds of sales of water rights go to form a Sinking 
 Fund, for the payment of the principal and interest of the 
 Bonds. 
 
 The Merchants Loan and Trust Co., of Chicago, Illinois, 
 is the Trustee for the bond-holders. 
 
IMMEDIATE RESOURCES. 
 
 In addition to income from rental of water for irrigation and 
 water power. 
 
 715i water rights, market value, $l,()uO $715,500 CO 
 
 Bills Receivable 3,342 50 
 
 Accounts Receivable 37,338 25 
 
 Cash in Treasurv • 13,61 1 49 
 
 Total $769,792 24 
 
 TOTSL LISBILITIES. 
 
 Bonds due Jan. Isi, 1900 $400,000 00 
 
 Interest on above, not due 2,666 66 
 
 Bills Payable, not due 47,400 00 
 
 Interest on above, nut due 988 67 
 
 Accounts Payable 10,380 88 
 
 Total $461,436 21 
 
 INCOME AND EXPENDITURES. 
 
 For the Last Fiscal Year. 
 INCO^/IK from all sources $112,698 43 
 
 EXF*ENDITURES: 
 
 Interest on Bonds $32,000 GO 
 
 Interest on Bills Payable 4,000 00 
 
 Accounts and Bills Payable 20,579 84 
 
 Permanent Improvements. , 23,933 32 
 
 Current Expenses 18,573 78 
 
 99,086 94 
 
 Cash on hand $ 13,611 49 
 
 W. J. MURPHY, President. 
 
 THE VALLEY BANK, Tkeas., 
 
 By Wm. Christy, Cashier. 
 

 
 yJ^.:! >^^'^^ 
 
 
 
 
 
 
 ,-(7, -s '4 -^ • ' • 'i •